Benchmark Reaffirms Buy Rating for NeoGenomics (NASDAQ:NEO)

NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research note issued on Tuesday, Benzinga reports. They presently have a $18.00 price objective on the medical research company’s stock. Benchmark’s price objective points to a potential upside of 13.92% from the stock’s previous close.

NEO has been the subject of several other reports. Stephens reiterated an “overweight” rating and issued a $19.00 target price on shares of NeoGenomics in a research report on Tuesday, July 30th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.89.

NeoGenomics Stock Down 2.9 %

Shares of NASDAQ NEO opened at $15.80 on Tuesday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -23.94 and a beta of 1.19. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. NeoGenomics has a 12 month low of $11.03 and a 12 month high of $21.22. The stock has a 50-day moving average price of $16.07 and a two-hundred day moving average price of $14.94.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Monday, July 29th. The medical research company reported $0.03 earnings per share (EPS) for the quarter. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The business had revenue of $164.50 million during the quarter, compared to analysts’ expectations of $161.82 million. During the same period in the prior year, the company earned ($0.09) EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts forecast that NeoGenomics will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of NeoGenomics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 14,211,019 shares of the medical research company’s stock worth $223,397,000 after purchasing an additional 41,354 shares during the period. First Light Asset Management LLC raised its stake in NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after buying an additional 897,843 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in NeoGenomics by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock valued at $46,108,000 after buying an additional 217,687 shares during the period. American Century Companies Inc. boosted its position in NeoGenomics by 5.4% during the second quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock valued at $45,241,000 after acquiring an additional 167,145 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in NeoGenomics by 77.8% during the 1st quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock worth $16,532,000 after acquiring an additional 460,071 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.